TPG Ventures hires former Critical Path head

Bill McGlashan, who successfully turned his communications software company around, joins the venture capital affiliate of Texas Pacific Group.

TPG Ventures, the venture capital arm of buyout veteran Texas Pacific Group, has brought aboard Bill McGlashan as managing director.

 

McGlashan will focus on the consumer, information technology and life sciences segments of the business.

 

Previously, McGlashan served as chairman and chief executive officer of Critical Path, a communications software company. He joined the Critical Path in April 2001 and turned the company around by hiring new management, settling shareholder litigation, restructuring the balance sheet by retiring $295 million in debt and raising $100 million of venture financing, and cutting expenses by 70 percent. He will continue to serve as the company’s chairman.

 

Prior to Critical Path, McGlashan co-founded and served as CEO of Vectis Group, a venture corporation that capitalized and built companies globally in partnership with leading U.S. technology businesses. McGlashan was also co-founder and CEO of Generation Ventures, a firm focused on developing new ventures in China in the areas of healthcare and technology.

 

TPG Ventures was founded in 2001 with $500 million of capital. The firm’s investment focus is on early stage and acceleration round opportunities in information technology and biotechnology with an emerging practice in consumer companies.